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Meet the Money 2010


This is Jim Butler, author of www.HotelLawBlog.com and hotel lawyer. Please contact me at Jim Butler at jbutler@jmbm.com or 310.201.3526.

Meet the Money®

Posted On: June 1, 2011 by the JMBM Global Hospitality Group®

Hotel Lawyer with the Executive Roundtable results.

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
01 June 2011

Debt is returning, equity is out looking, and we've passed the bottom of the trough. Why now is the time to purchase a hotel.

We promised to let you know when Hotel Business® published its coverage of its 2011 Executive Roundtable--Capital Ideas: Financing Solutions For Opportunistic Dealmakers that took place on May 2, 2011 in Los Angeles prior to Meet the Money®. The current issue of Hotel Business® just hit my mail box and the articles covering the Executive Roundtable and Meet the Money® provide some thoughtful reading.

If you do not know why now is the time to invest in a hotel, you will want to read these articles!

Continue reading " Hotel Lawyer with the Executive Roundtable results. " »

Posted In: Hotel Finance − Hotel Debt & Hotel Equity , Meet the Money® , Outlook and Trends

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Posted On: May 19, 2011 by the JMBM Global Hospitality Group®

Hotel Lawyer: Latest perspective on the hotel industry from Smith Travel

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
19 May 2011

Hotel Lawyer with fresh perspectives on the hotel industry from Smith Travel. When the hotel lawyers of JMBM's Global Hospitality Group® hosted their 21st annual hotel conference recently, Jan Freitag of Smith Travel Research gave a very interesting update and some fresh perspectives on the hotel industry, including:

  • A different perspective on the impact of gas prices on lodging demand (compare PKF's views

  • What's happening with transient and group occupancy and ADR

  • Where RevPAR recovery is strongest. And weakest.

  • How luxury is leading the industry out of the recession

  • What lies ahead - forecast


Continue reading " Hotel Lawyer: Latest perspective on the hotel industry from Smith Travel " »

Posted In: Meet the Money®

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Posted On: May 17, 2011 by the JMBM Global Hospitality Group®

Hospitality Lawyers with PKF and Mark Woodworth's Lodging Overview

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
17 May 2011

Hospitality Lawyers on the State of the Hotel Industry.

Mark Woodworth of PKF is one of my favorite industry experts when it comes to getting meaningful information and helpful forecasts. He lived up the highest expectations at JMBM's recent Meet the Money® conference.

Here is his slide presentation where Mark addressed a lot of critical questions we all want the answers for, including:

  • Where are we in the hotel cycle?

  • What's happening with corporate profits, job growth and lodging demand?

  • What's the effect of the housing problem?

  • What is the forecast? (Good and getting better)

  • What's the impact of oil prices on lodging demand?


Continue reading " Hospitality Lawyers with PKF and Mark Woodworth's Lodging Overview " »

Posted In: Meet the Money® , Outlook and Trends

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Posted On: May 13, 2011 by the JMBM Global Hospitality Group®

Hotel Lawyers' updates on capital and debt markets for hotels, transaction sales data and financings

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
16 May 2011

Hotel Lawyers' updates on capital and debt markets for hotels, transaction sales data and financings

David Loeb from RW Baird always provides such interesting hotel data. In his excellent presentation at Meet the Money®, he gave us the latest industry data showing:

  • How REITs have dominated the transaction market (more than 80% of the transactions year-to-date in 2011)

  • What's happening in the debt markets now with yields going below 9%

  • How hotel stock investments have fared compared to other investments

  • What is happening with IPOs and IPO pipeline


And when you are studying his presentation slides, don't stop at what looks like the end, because he has great stuff in his "Appendix: Transaction Tables." As David said, think of this this as a "free bonus" with detailed information on:

  • Selected hotel sales data

  • Loan details on originations and refinancings

  • Equity raises

Continue reading " Hotel Lawyers' updates on capital and debt markets for hotels, transaction sales data and financings " »

Posted In: Meet the Money® , Outlook and Trends

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Posted On: May 13, 2011 by the JMBM Global Hospitality Group®

Hotel Lawyer updates on hotel cap rates, values and transactions

By Jim Butler and the Global Hospitality Group®

Hotel Lawyers | Authors of www.HotelLawBlog.com

13 May 2011

Hotel Lawyer with updates on hotel cap rates, values and transactions from JMBM's Meet the Money® 2011

Hotel cap rates, hotel values and hotel transaction data are some of the most sought after information as transactions gain momentum in 2011. Fortunately, Suzanne Mellen of HVS is a real expert on these issues and she gave a wonderful presentation on all this at Meet the Money® last week. Here it is for those who missed it.

Continue reading " Hotel Lawyer updates on hotel cap rates, values and transactions " »

Posted In: Meet the Money®

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Posted On: May 10, 2011 by the JMBM Global Hospitality Group®

Hotel Lawyer with nuggets from JMBM's Meet the Money® 2011

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
10 May 2011

Hotel Lawyer with nuggets from JMBM's Meet the Money® 2011

For all of our industry friends -- whether or not you were able to attend Meet the Money® 2011 in Los Angeles last week -- we will be posting on the Hotel Law Blog some of the invaluable information delivered by industry thought leaders at the conference. In the coming days and weeks, look for PowerPoint presentations, summaries of panel discussions and, of course, commentary. But today, we will whet your appetite with some sound bites -- nuggets of insight, analysis and humor -- from some of the best minds in the industry.

  • Who is financing?
  • When do we hit the peak?
  • Are market values running ahead of fundamentals?
  • How do you price deals today?

These are some of the questions that continued to surface through various panel discussions and hallway conversations during the conference. For some pertinent nuggets, read on.

Continue reading " Hotel Lawyer with nuggets from JMBM's Meet the Money® 2011 " »

Posted In: Meet the Money® , Outlook and Trends

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Posted On: May 4, 2011 by the JMBM Global Hospitality Group®

JMBM's Meet the Money® in the Wall Street Journal today!

Hotel Lawyers at Meet the Money®. It was nice to wake up this morning to find JMBM's hotel finance conference in a Wall Street Journal blog article by Kris Hudson, along with quotes from conference speakers Marty Collins of Gathouse Capital, Jan Freitag of Smith Travel Research, Robert Alter of Sunstone Hotel Investors, and Greg Mount of Richfield Hospitality.

We will be sharing some of the great information presented at the conference over the coming days, but if you missed this article, please take a look!

Continue reading " JMBM's Meet the Money® in the Wall Street Journal today! " »

Posted In: Meet the Money®

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Posted On: May 4, 2011 by the JMBM Global Hospitality Group®

Hotel industry think tank's top 10 challenges for 2011

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
5 May 2011

Hotel Lawyer from Meet the Money® - Hotel industry think tank's top 10 challenges for 2011

I am privileged to be one of the co-chairs of the Lodging Industry Investment Council (LIIC) along with Mike Cahill and Sean Hennessey. LIIC is the hotel industry "think tank" whose membership owns or operates many billions of hotel investments, and involves all aspects of the industry.

LIIC surveys its membership each year and first releases the results -- The LIIC Top 10 -- at JMBM's annual Meet the Money® conference. Mike Cahill, president and founder of HREC - Hospitality Real Estate Counselors (www.hrec.com) compiled the survey and delivered its results to the 350 participants at the conference.

Continue reading " Hotel industry think tank's top 10 challenges for 2011 " »

Posted In: Meet the Money® , Outlook and Trends

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Posted On: April 30, 2011 by the JMBM Global Hospitality Group®

Top hotel industry leaders converge for Executive Roundtable at Meet the Money®

By Jim Butler and the Global Hospitality Group®
Hotel Lawyers | Authors of www.HotelLawBlog.com
30 April 2011


JMBM's Global Hospitality Group® will kick off the 21st annual Meet the Money® hospitality finance conference by hosting a pre-conference roundtable among hotel industry leaders.

The Hotel Business® 2011 Executive Roundtable--Capital Ideas: Financing Solutions For Opportunistic Dealmakers will take place Monday, May 2 at the Sheraton Gateway Los Angeles.

Continue reading " Top hotel industry leaders converge for Executive Roundtable at Meet the Money® " »

Posted In: Meet the Money®

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Posted On: April 28, 2011 by the JMBM Global Hospitality Group®

Connecting online at Meet the Money®!

Meet the Money kicks off Monday!!! And we have a way to help you stay connected . . .

twitter-button2.jpgSocial media can help you connect with conference delegates, speakers and sponsors, making it easy to follow up afterward and continue talking about deals and opportunities. Use the hashtag (a simple way to group posts about the same topic) #MTM2011 in any of your tweets about the conference to let us know what you're thinking about--what presentations and ideas you find useful, what you'll be applying to your transactions in the next few years, and how you're interpreting the research our experts have compiled. Join the conversation! We're looking forward to hearing from you.

For more information about Meet the Money® 2011, visit www.MeetTheMoney.com

Posted In: Meet the Money®

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About the Authors

Jim Butler

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Jim Butler is recognized as one of the top hotel lawyers in the world. He devotes 100% of his practice to hospitality, representing hotel owners, developers and lenders. Jim leads the Global Hospitality Group®—a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe.
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Robert Braun

Robert Braun is a partner in JMBM's Corporate Department and a senior member of JMBM's Global Hospitality Group® -- a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe. Bob represents owners in both transactional and operational issues. He advises clients with respect to business formation, financing, mergers and acquisitions, venture capital financing, joint ventures and strategic partnerships. He has represented hotel owners in the negotiation of several hundred management agreements, as well as spa management and franchise agreements. Bob also advises hotel owners regarding telecommunications, software, internet, e-commerce, data processing and outsourcing agreements. To read Bob's articles, go to www.HotelLawBlog.com and select "Management Agreements." For more information, please contact Bob Braun at 310.785.5331 or rbraun@jmbm.com.

Marta Fernandez

Marta Fernandez is a partner in JMBM's Employment and Labor Department and a senior member of JMBM’s Global Hospitality Group® -- a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe. As a management labor lawyer with more than 20 years of experience, Marta specializes in representing hospitality industry clients in all aspects of labor and employment including labor-management relations such as union prevention, collective bargaining for single as well as multi-employer bargaining units, neutrality agreements and defense of unfair labor practice charges before the NLRB. She defends employers in administrative and litigation claims, such as employee claims of sexual harassment and discrimination and counsels clients in preventative strategies such as executive training, arbitration enforcement, and policies and procedures. To read Marta's articles, go to www.HotelLawBlog.com and select "Labor & Employment." For more information, please contact Marta Fernandez at 310.201.3534 or at mfernandez@jmbm.com.

Catherine DeBono Holmes

Catherine DeBono Holmes is a partner in JMBM's Corporate Department and a senior member of JMBM’s Global Hospitality Group® -- a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe. Cathy assists hotel clients with hotel management and franchise agreements, purchase and sale transactions, and condo hotel regime structuring. She has taken hotel owners through complex RFP processes involving all the major hotel brands. She has significant expertise in condo hotels and advises clients in the specific business and legal aspects of condo hotel regime structuring and documentation, including CC&Rs, HOA docs, unit management agreements, shared facilities agreements, rental management agreement programs and securities compliance matters (structuring, documentation and training). To access Cathy's articles on www.HotelLawBlog.com, click on the topics "Condo Hotels" or "Green Hotels" For more information, please contact Cathy Holmes at 310.201.3553 or cholmes@jmbm.com.

Guy Maisnik

Guy Maisnik is a partner in JMBM's Real Estate Department and a senior member of JMBM's Global Hospitality Group® -- a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe. Guy's deep and broad transactional practice includes complex real estate finance and venture capital transactions, including project finance, commercial finance, leveraged leasing and real estate acquisitions. He assists clients with development, leasing and disposition, loan portfolio acquisitions, loan and debt restructure, workouts and real estate exchanges. Go to www.HotelLawBlog.com for current information in these areas. For more information, please contact Guy Maisnik at 310.201.3588 or mgm@jmbm.com.

David Sudeck

David Sudeck is of Counsel in JMBM's Real Estate Department and a senior member of JMBM’s Global Hospitality Group® -- a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe. David has significant experience in the vacation ownership arena, focusing on the formation and registration of condominiums, timeshares and fractional interest regimes. He negotiates hotel, spa and restaurant management agreements, and assists client in the development, acquisition, sale and leasing of hotels, golf courses and restaurants. For David's take on current issues in the timeshare arena, go to www.HotelLawBlog.com and click on the topic, "Timeshare." For more information, please contact David Sudeck at 310.201.3518 or dsudeck @jmbm.com.

Robert Kaplan

Robert Kaplan is a partner in JMBM's Bankruptcy, Insolvency and Restructurings Group and a senior member of the Global Hospitality Group® -- a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe. Bob represents lenders, special servicers, hard money lenders, community banks, national banking associations, distressed debt investors, and equity investors, positioning them for the best possible outcome by acting expeditiously to preserve value and increase cash flow. His industry experience and his knowledge of the current capital markets -- where distressed assets often include complex deal structures and securitized loans -- allows him to bring creative and effective strategies to the table. When aggressive litigation is the best strategy, he is a vigorous and effective advocate for his clients. Bob represented the securitized lender in the Chapter 11 bankruptcy case filed by the Clift Hotel in San Francisco, and in the subsequent negotiations and successful sale of the loan to a third party. The lender -- acting by and through GMAC Commercial Mortgage Corporation as special servicer -- was the holder of a $60 million loan secured by a Deed of Trust on the Clift Hotel. He has also served as counsel to CapMark, J.E. Robert Company, Inc., AMRESCO Management Inc. and Midland Loan Servicer in their capacity as special servicers on troubled hotel loans in CMBS pools. For more information, contact Robert Kaplan at 415.984.9673 or rkaplan@jmbm.com.

Martin Orlick

Martin Orlick is a partner in JMBM's Real Estate Department and a senior member of JMBM's Global Hospitality Group® -- a team of 50 seasoned professionals with more than $60 billion of hotel transactional experience, involving more than 1,300 properties located around the globe. Marty specializes in representing hospitality industry clients in Americans With Disabilities Act (ADA) compliance and defense. He has represented more than 300 businesses in ADA issues, many of them hotels and restaurants, as well as hotel mixed-use properties. Marty is a member of the American College of Real Estate Lawyers (ACREL) and a frequent speaker on the ADA and other topics. To read Marty's articles, go to www.HotelLawBlog.com and select "ADA." For more information, please contact Marty Orlick at 415.984.9667 or morlick@jmbm.com.

James Abrams

James Abrams has significant experience in government affairs at the national level, the state level – including the California Legislature and scores of state agencies – and with local governments and agencies. He has authored successful ballot measures and scores of bills for his clients. Jim served as the President and CEO of the California Hotel & Lodging Association from January 1, 1991 through December 31, 2008 and is currently an adjunct professor in the Hospitality Industry Management Program at the University of San Francisco. He is a frequent speaker and writer on all aspects of the law relating to the lodging and hospitality industries, and he is the author of the book Laws Pertaining to the California Innkeeper, which is published by the California Hotel & Lodging Association. To read Jim’s articles, go to www.HotelLawBlog.com. For more information, please contact Jim Abrams at 415.398.8080 or jabrams@jmbm.com.

Eudeen Chang

Eudeen Chang is a lawyer in the Litigation Department of JMBM's Orange County office and a member of the Global Hospitality Group®. He represents hotels in a variety of litigation matters, including ADA defense. He is well-versed in all aspects of litigation, from pre-lawsuit strategizing to trial, post-judgment collection and through appeal. He also serves as outside general counsel for a number of small and mid-sized companies and high net-worth individuals. Contact Eudeen at EChang@jmbm.com or 949.623.7232.

Victor Shum

Victor Shum is a corporate and securities partner in JMBM's Corporate Department and a member of JMBM's Global Hospitality Group® and Chinese Investment Group™. He has advised clients on EB-5 matters since 1999 andassists hotel developers on EB-5 financing as well as public and privatesecurities, mergers and acquisitions, cross-border issues, and otherstrategic business transactions, including real estate transactions andintellectual property and technology licensing matters. For moreinformation, contact Victor Shum at 415.984.9611 or vshum@jmbm.com.

Scott Brink

Scott Brink is a senior member of JMBM's Global Hospitality Group® anda partner in JMBM's Labor & Employment Law Department. Scott is amanagement labor lawyer with more than two decades of experiencerepresenting employers in all aspects of labor relations and employmentlaw including union prevention, collective bargaining negotiations,defense of unfair labor practice charges before the NLRB, wrongfuldischarge litigation, individual and class action employmentdiscrimination and wage-and-hour claims, sexual-harassment litigation,arbitrations, personnel policies, California wage and hour law, andemployee discipline and discharge. An experienced trial attorney, Scotthas litigated a number of high-profile and complex cases involving awide range of labor and employment law matters. For more information,contact Scott Brink at RSB@jmbm.com or 310.785.5365.

Global Hospitality Group®
1900 Avenue of the Stars
7th Floor
Los Angeles, CA 90067
Direct: (310) 201-3526
Direct Fax: (310) 712-8526
E-mail: jbutler@jmbm.com

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Ask The Hotel Lawyer ™

Ask the Hotel Lawyer™ is a quarterly column that I write for JMBM's Global Hospitality Advisor®. If you have a question you would like to submit to Ask the Hotel Lawyer™ please use the comments box below. While your question may not be of sufficient general interest for the column, I will try to respond to you individually if you leave your contact information below. Jim Butler.